As the number of firms in an oligopoly ____, the oligopoly becomes more ____
a. increase; competitive
b. increase; uncompetitive
c. decrease; competitive
d. decrease; like monopolistic competition
a
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What could explain why South Korea's gross domestic product (GDP) per capita increased so much faster since the 1970s than North Korea's GDP per capita?
What will be an ideal response?
Which three macroeconomic variables together best describe the health of the economy?
A. Output, GDP, and inflation B. Output, inflation, and prices C. GDP, unemployment, and employment D. Output, prices, and employment
Which of the following is an example of a renewable natural resource?
a. the knowledge possessed by scientists b. carpenters' labor services c. lumber d. All of the above are correct.
According to liquidity preference theory, the slope of the money demand curve is explained as follows:
a. Interest rates rise as the Fed reduces the quantity of money demanded. b. Interest rates fall as the Fed reduces the supply of money. c. People will want to hold less money as the cost of holding it falls. d. People will want to hold more money as the cost of holding it falls.